Effects Of Depression On Individual Groups Flashcards Preview

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Flashcards in Effects Of Depression On Individual Groups Deck (5)
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1
Q

Give three effects the depression had on farmers?

A

In 1933 income dropped 60%

Goods that farmers bought had only dropped 15% in price so couldn’t afford what they needed

Many had to sell up

1933, 1 millions traveling to look for work

2
Q

Give three effects of the depression on bankers?

A

Many lost jobs as banks went bankrupt

Banks tried to recover loans from companies which lead to higher unemployment

Many banks closed so little opportunity for other jobs

3
Q

Give three effects of the depression on urban workers?

A

25% of the workforce was unemployed

In 1933 production was 1/5 of what it had been before the crash

Unemployment in cities was high between heavy industrial workers and blacks

4
Q

Give three effects of the depression on businesses?

A

Between 1929 and 1933 100,000 businesses closed

Over three years wages dropped from 28 to 22 dollars

Many had to payback loans = bankrupt

5
Q

Give three effects of the depression on homelessness?

A

Many couldn’t afford to keep home

Homes were repossessed by banks

Shanty towns were built on the edge of towns known as Hoovervilles